26. Kaypee Corporation is a local manufacturer that usesa job order costing. Manufacturing overhead is appliedusing a predtermined rate based on direct labor cost. Thecost ledger shows the following information for themonth of August.Work in process InventoryCreditP250,000120,000100,00080,000DebitBalance, Aug 1Materials usedDirect laborApplied FOHGoods ManufacturedP296,000Kaypee had three outstanding jobs in ending work inprocess that are expected to be delivered in the followingmonth:Job #108 with direct materials of P35,000 and directlabor of P20,000Job # 109 with direct materials of P45,000 anddirect labor of P25,000Job #110 with applied overhead of P28,000.What was the total cost of Job # 110?

The question is based on the concept of Cost Accounting.

Answered: 26. Kaypee Corporation is a local…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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What is the ending balance in Work in Process? 2. What is the total amount of actual manufacturing overhead cost incurred during the year? (Show T-Account
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Jensen Fences uses job order costing. Manufacturing overhead is charged to individual jobs through the use of a predetermined overhead rate based on direct labor costs. The following information appears in the company's Work in Process Inventory account for the month of June: Debits to account: Balance, June 1 Direct materials Direct labor Manufacturing overhead (applied to jobs as 125% of direct labor cost) Total debits to account Credits to account: Transferred to Finished Goods Inventory account Balance, June 30 Required: $ 5,000 18,000 12,100 15,125 $ 50,225 44,000 $ 6,225 a. Assuming that the direct labor charged to the jobs still in process at June 30 amounts to $1,500, compute the amount of manufacturing overhead and the amount of direct materials that have been charged to these jobs as of June 30. b. Prepare general journal entries to summarize: 1. The manufacturing costs (direct materials, direct labor, and overhead) charged to production during June. 2. The transfer of…
24. Kaypee Corporation is a local manufacturer that uses a job order costing. Manufacturing overhead is applied using a predtermined rate based on direct labor cost. The cost ledger shows the following information for the month of August. Work in process Inventory Credit P250,000 120,000 100,000 80,000 Debit Balance, Aug 1 Materials used Direct labor Applied FOH Goods Manufactured P296,000 Kaypee had three outstanding jobs in ending work in process that are expected to be delivered in the following month: Job #108 with direct materials of P35,000 and direct labor of P20,000 Job # 109 with direct materials of P45,000 and direct labor of P25,000 Job #110 with applied overhead of P28,000. What is the total cost of Job #108?
XYZ Equipment In. receives order from Shiraz Consultant Clinic on 15th August. The company started its production on 18th of August and completed in 25th of August. The company collects its cost and revenue data by the job order cost accumulation procedure. For job number 505, the following data are available: Direct material Direct Labor FOH-Applied Date REQ. NO: Amount Rs. Date Hours Cost Rs. Rs. 30 for each direct labor hours 8/18 400 4000 8/18 30 600 ? 8/19 600 6000 8/19 40 800 8/25 1000 10000 8/21 35 700 Total 20000 8/23 50 1000 8/25 60 1200 Total 4300 Other Information: Total Sales are 30% above cost. Marketing and selling expenses Rs. 1000 Administrativeexpenses 1500. Required Enter the appropriate information on a job order cost sheet.
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answer in text form please (without image), answer both the parts
3. Asters Co. uses a job order cost system. The following data summarizes the operations related to production for March. Journalize the entries to record the summarized operations. a. Materials purchased on account for $660,000 b. Materials requisitioned, $577,500 of which $73,500 was for general factory use c. Factory labor used, $681,500, of which $95,000 was indirect labor d. Other costs incurred on account were for factory, $154,320; selling expenses, $244,440; and administrative expenses, $152,250 e. Prepaid expenses expired for factory overhead were $30,450; for selling expenses, $25,830; and for administrative expenses, $18,690 f. Depreciation of office building was $88,200; of office equipment, $45,150; and of factory equipment, $30,450 g. Factory overhead costs applied to jobs, $375,500 h. Jobs completed, $871,800 i. Cost of goods sold, $860,000. Selling price of $925,000.
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